General Electric (NYSE:GE) Price Target Raised to $175.00 at Royal Bank of Canada

General Electric (NYSE:GE) had its price objective hoisted by equities researchers at Royal Bank of Canada from $165.00 to $175.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the conglomerate’s stock. Royal Bank of Canada’s price target points to a potential upside of 8.52% from the company’s current price.

GE has been the topic of several other research reports. The Goldman Sachs Group lifted their price objective on General Electric from $190.00 to $211.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group decreased their price objective on General Electric from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Vertical Research assumed coverage on General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective on the stock. Oppenheimer reiterated a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Finally, StockNews.com assumed coverage on General Electric in a report on Sunday, April 21st. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $170.00.

General Electric Trading Up 1.3 %

NYSE GE opened at $161.26 on Wednesday. The stock’s 50-day simple moving average is $160.45 and its two-hundred day simple moving average is $135.73. General Electric has a twelve month low of $76.87 and a twelve month high of $163.65. The company has a quick ratio of 0.85, a current ratio of 1.17 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $176.30 billion, a price-to-earnings ratio of 52.87, a PEG ratio of 3.05 and a beta of 1.29.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business had revenue of $16.10 billion for the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter last year, the business posted $0.27 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts forecast that General Electric will post 3.95 EPS for the current fiscal year.

Insider Buying and Selling at General Electric

In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other General Electric news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of General Electric stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now directly owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Institutional Trading of General Electric

Hedge funds have recently made changes to their positions in the stock. Prime Capital Investment Advisors LLC boosted its position in shares of General Electric by 29.3% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate’s stock worth $3,613,000 after purchasing an additional 6,419 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of General Electric by 12.5% in the 4th quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate’s stock worth $33,335,000 after purchasing an additional 28,985 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of General Electric by 10.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate’s stock worth $12,087,000 after purchasing an additional 10,722 shares in the last quarter. Grandfield & Dodd LLC boosted its position in shares of General Electric by 9.3% in the 4th quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate’s stock worth $34,432,000 after purchasing an additional 22,998 shares in the last quarter. Finally, Hoey Investments Inc. boosted its position in shares of General Electric by 51,152.3% in the 3rd quarter. Hoey Investments Inc. now owns 22,551 shares of the conglomerate’s stock worth $2,493,000 after purchasing an additional 22,507 shares in the last quarter. 74.77% of the stock is owned by institutional investors.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.